About your Search

20121122
20121122
Search Results 0 to 8 of about 9
's wrong with that? [ticking] >> when the u.s. oil companies came here in the '40s and '50s, the americans moved into the area with their families and developed it to suit their tastes and their way of life. they created a replica of american suburbia. today you could be in the outskirts of houston or los angeles. it's almost like it's an enclave within saudi arabia. it's--different from the rest of the country. >> yes, that's true, because-- >> very different. it kept a lot of the american ways. >> yes, of course. >> but blocked off from the rest. >> they are good ways. there's nothing wrong with it. these were their excellent ways. >> welcome to 60 minutes on cnbc. i'm morley safer. in this edition, we follow the flow of big oil from massive, mega billion dollar oil fields in saudi arabia to the u.s. where wall street refines the oil into a mega billion dollar commodity. we begin with a look back to 2008 when the price of oil, theoretically tied to supply and demand, suddenly became untethered. storage tanks were full, yet the price skyrocketed from $69 a barrel to nearly $150 before it
, decline in manufacturing eased a little bit more than expected in november. joining us, chief european economist. ricar ricardo, thanks for joining us. so still a negative territory. what does this point to in terms of the economic decline for the fourth quarter? >> i think it's in line with the idea that real sgchlt dp will decline by at least 0.2%, possibly 0.3%. it will give us a negative entry point in 2013 when i expect an average growth of minus 0.2%. so still moderately recession territory. >> the german flash composite pmi 47.9, services 48, manufacturing 46.8, is germany -- we just saw the 0.2% print. is girl aermany going to have a negative contract? >> i'm looking for a contraction of minus 0.2. so only aed modest one. i expect activity will stabilize in q1 of next year, but obviously that requires a favorable external environment, meaning u.s. not going into this deep due to the fiscal cliff. and also signs of improvement in asia. >> meanwhile the french pmi says the survey there suggests a 0.7% gdp drop in quarter 4 for france. >> that seems quite large. we've seen in rece
i'm steve kroft. thanks for joining us. [ticking] [ticking] >> in a nondescript t-shirt at a nondescript desk, mark zuckerberg runs a vast global empire, leading the whole internet in his direction. is the goal for you to conquer the whole internet? to own the internet? >> well, think about it like this. people--if they can use a product of any category--photos, music, tv, anything--either by themselves or with their friends... >> mm-hmm. >> i think most of the time, people want to do those things with their friends, so-- >> so is the answer "yes"? [ticking] you describe bill gates in very harsh terms. um, you've described him as being quite abusive. i mean, it's not a pretty picture. >> and i felt like when i wrote it, i should just tell it like it happened, in an unvarnished way, warts and all. >> you'll hear how the two high school buddies who started microsoft and a computer revolution had some pretty trying times along the way. do you think he came to think that you weren't working as hard as he was and it became a source of resentment with him? >> well, i thi
-fired power plants generating electricity in the u.s., and those plants produce 130 million tons of waste called coal ash. it contains concentrations of mercury, arsenic, lead, and other toxic materials. and as lesley stahl first reported in 2009, when coal ash is dumped into wet ponds--and there are more than 500 of those across the country-- the result can have an enormous health risk on the people living in nearby communities. >> we get about 48%, nearly half of the electricity in this country from coal. >> jim roewer is one of the top lobbyists for the power industry. >> coal is going to be around for a long time. >> and we really can't get rid of coal. >> we shouldn't get rid of coal. >> well, should or shouldn't, we can't, and coal makes waste. would you say that the industry has done a good job of disposing of the coal ash waste? >> we can do better. >> does that mean no? >> well, we had a kingston spill. >> that's kingston, tennessee, where, in december 2008, a giant retention pool of coal ash buckled under the weight of five decades of waste. >> all the power lines have been knoc
i'm morley safer. thanks for joining us. [ticking] >> banks were filing foreclosure lawsuits by the millions, and in the rush to collect, it appeared some financial firms were using phony legal documents to throw people out of their homes. chris pendley says he forged 4,000 bogus mortgage documents a day for major u.s. banks. and your previous experience in banking? >> none. [ticking] >> it started out as a mortgage crisis. then it slowly evolved into a credit crisis. now it's something entirely different and much more serious. >> this is a full-blown financial storm and one that comes around perhaps one every 50 or 100 years. this is the real thing. >> and much of what went wrong on wall street could be traced back to something called "credit default swaps." they were traded in a risky shadow market, and they were at the heart of the financial meltdown. [ticking] >> it has tentacles as wide as anything i've seen. i think, next to housing, this is the single most important issue in the united states and certainly the largest threat to the u.s. economy. >> meredith whitney was
i'm steve kroft. thanks for joining us. [ticking] [ticking] >> it is the mark of the yakuza: ornate, full-body tattoos that cover the members of the japanese mob. so how did one of their most notorious godfathers get into america and jump to the front of a line for a lifesaving liver transplant? this reporter found out and says it may cost him his life. >> as he was leaving and getting in his car, he said, "that"-- you know, "that--that goddamn american jew reporter. i want to kill him." [ticking] >> greg mortenson's book three cups of tea is a publishing phenomenon that has made him a celebrity, a cult-like figure on the lecture circuit, and inspired people to give nearly $60 million to his charity, and it all began with one simple story. >> it's a beautiful story, and it's a lie. >> we wanted to talk to mortenson about that and some other things, but he didn't want to talk to 60 minutes. >> steve kroft. >> nice to meet you. >> how you doing? >> thanks. >> got five minutes for us today? >> um... [ticking] >> we wondered how the man who could whistle up a corporate jet on a whim...
off for ten days, and let them wait on us to go pick them up to see how it feels to keep waiting? >> i don't think you should keep waiting. i told you you wouldn't have to keep waiting. i can't speak-- >> it's a contradiction of your word, sir. >> i know. there may be-- it won't be the first time. i'm trying. >> feinberg acknowledges he's dealing with a weary and frustrated population who may distrust a hotshot lawyer with a boston accent. >> what these fishermen and others want to see are checks and compensation, not promises from somebody from boston. and that is an obstacle that i try to overcome in part by coming down here and meeting with these people. >> this is, what, your 14th or 15th trip down here? >> i think so. >> do you feel that the tide is somehow turning in your favor, that people say, "okay, let's give him a chance?" >> not yet. >> not yet? >> not yet. >> well, six months of this would be a step in the right direction. >> well, a step in the right direction-- >> not another week of runaround. >> the average for each of the claims that you paid out is $5,000. and that's
's become more of a hindrance than a help for most of us. so listen up, tonight setting you straight. here on "mad money" we're about long-term investing, often mischaracterized. there is a serious problem with this notion. it goes like this. too often people let the concept of long-term investing get in the way of investing. if you think long-term investing is about making boatloads of money over years, decade, each lifetimes, i'm on board, and that's something i can teach you how to do using the disciplines that allowed me to make fortunes for my already rich partners back in my old hedge fund where i ran a million dollars. however, i've seen people in long-term investing as an excuse, an alibi either for poor performance -- >> the house of pain! >> -- or for not paying attention to what they own. you often hear that you shouldn't worry about your losses or the profits that you're missing in the present, that it's okay to take short-term pain because you'll make back the money you're losing with long-term gains. sometimes absolutely true. but most of the time losing money month after mon
obama still hasn't given the green light to the keystone pipeline that would give us jobs and energy n independence? now a truly bipartisan group of senators is telling the president to make a decision right now. first up this evening, this is the big question. will we get a deal done or might president obama just let us go right over the fiscal cliff, take the recession, and simply blame the gop? this is a serious question that i'm hearing from washington all the time. so let's talk. we have cnbc contributor jack bernstein, former chief economist, and art laffer, former reagan adviser. i'm not attacking obama or anything. i'm just saying there is a lot of talk of stalemate. well perhaps go through where, why and how. staffs have been meeting unsuccessfully. some people are saying, art, that the scenario is going to be that president finally throws up his hands and says there is no deal, we're going to have a stalemate and we will tall off the fiscal cliff into recession and then he will blame the republicans. what's your take? >> i think he's going to blame the republicans, larry, for
Search Results 0 to 8 of about 9

Terms of Use (10 Mar 2001)